The Economic Times

Own property in UAE? Income Tax Department nudges taxpayers to declare undisclosed assets under FAST-DS 2026, know who needs to act and what they can do

UAE property owners have received communication from the income tax department regarding undisclosed assets. Taxpayers are prompted to assess their foreign assets in relation to their tax status. Those eligible can use the FAST-DS 2026 scheme before the deadline. Failure to disclose such assets may result in severe penalties or taxation. It is important to review and act upon this nudge to avoid repercussions.